The 24-year-old Price is a two-time All-Star who has been in the NHL for five seasons.

Montreal general manager Marc Bergevin announced the signing Monday.

Price played 65 games last season for the Canadiens, who missed the playoffs last season. He posted a 26-28-11 record with a 2.43 goals-against average, a .916 save percentage and four shutouts.

Drafted by Montreal in the first round, fifth overall, of the 2005 NHL draft, the native of Anahim Lake, British Columbia, has a 124-104-35 career record with 16 shutouts, a 2.56 GAA and a .916 save percentage.